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The National Association of Realtors® faces a massive communications challenge after their industry rules were turned on their head. The new rules, which went into effect Aug. 17, were part of the organization's proposed settlement to end class action litigation brought by home sellers concerning real estate commissions.
In the hopes of providing clarity, NAR embarked on a monthslong campaign to talk about the ins and outs of the changes, including the fact offers of compensation will continue to be an option consumers can pursue off-MLS through negotiation and consultation with real estate professionals.
The goal was to help dispel rumors and help reshape the narrative to highlight that moves will bring more transparency to the process.
Following the proposal on March 14, NAR produced a variety of videos, briefings and podcasts to walk journalists and the public through the implications of the practice changes. But in the days leading up to their implementation, the organization conducted a full-fledged media blitz strategy.
NAR leaders, including President Kevin Sears and Vice President Nate Johnson, took part in interviews with major outlets like ABC's "Good Morning America," Fox News, CNN, The Wall Street Journal and USA Today. Sears and CEO Nykia Wright also spoke to industry-specific outlets such as the Real Estate Insiders Unfiltered podcast.
In total, those interviews garnered more than 300 airings and reached more than 10 million people, according to a Realtor® Magazine, which is run by NAR.
"It's critical that we tell our own story," Sears, a broker from Massachusetts, told Realtor® Magazine. The story mentions a TV interview in Portland when he corrected an anchor who incorrectly implied the existence of an "industry-wide" rate.
"Not only does it humanize our hardworking members and our industry, but it helps us separate fact from fiction," Sears added.
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Mantill Williams, NAR’s vice president of public relations and communications, told Realtor Magazine that by getting out in front of the story, realtors were able to help "change the tenor of the conversation."
The campaign allowed NAR and its members to give potential buyers and sellers an accurate picture of the practice changes. It was also a chance to address any negative press, concerns or bad information, such as the belief compensation was a cause of today's affordability woes.